162k views
4 votes
Dristell Inc. had the following activities during the year (all transactions are for cash unless stated otherwise):

A building with a book value of $400,000 was sold for $500,000.
Additional common stock was issued for $160,000.
Dristell purchased its own common stock as treasury stock at a cost of $75,000.
Land was acquired by issuing a 6%, 10-year, $750,000 note payable to the seller.
A dividend of $40,000 was paid to shareholders.
An investment in Fleet Corp.’s common stock was made for $120,000.
New equipment was purchased for $65,000.
A $90,000 note payable issued three years ago was paid in full.
A loan for $100,000 was made to one of Dristell’s suppliers. The supplier plans to repay Dristell this amount plus 10% interest within 18 months.

1 Answer

6 votes

Answer:

Net cash flows from financing activities = (45000)

Step-by-step explanation:

Common stock issued 160000

Treasury stock purchased (75000)

Dividends paid (40000)

Note payable repaid (90000)

Net cash flows from financing activities

(45000)

User Artemnih
by
8.0k points
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.